CorFire and Payfone to Deliver Frictionless Mobile Commerce to
Merchants

ATLANTA & NEW YORK--(BUSINESS WIRE)--CorFire™, the mobile commerce business of SK C&C USA and the
industry-leading mobile technology expert, and Payfone, a remote mobile
commerce company, today announced plans to integrate CorFire’s mobile
wallet application, CorPay™ with Payfone’s remote mobile commerce
solution. This partnership will enable merchants to deliver fast and
secure solutions without compromising security or the consumer
experience.

Payfone authenticates through the bank and carrier networks, making it
easy for merchants to implement an accelerated user registration
process. Payfone doesn’t require changes to backend systems or new
payment marks. Moreover, consumers do not have to download or install
the application which, in turn, enables merchants to quickly and easily
increase conversions and improve customer loyalty.

“By integrating Payfone’s technology with CorFire’s mobile offerings, we
streamline mobile commerce for the retailer and provide a secure channel
for consumers to fully leverage mobile,” said Jon Squire, CMO of
CorFire. “The process eliminates lengthy account entry and ensures the
legitimate end-user is in possession of the phone where the merchant
m-commerce app is installed.”

The worldwide remote mobile digital payments market is forecasted to
surpass $2.5 billion by 20141. However, some merchants
struggle with low conversion rates due to consumer frustration with the
process.

“Payfone and CorFire will remove key barriers to merchant m-commerce app
adoption by eliminating the friction that most mobile shoppers
experience while maintaining secure transactions,” said Matthew Tucker,
chief operating officer at Payfone. “Eliminating the hassles surrounding
mobile commerce is a significant step in driving adoption rates and
acceptance.”

CorFire’s CorPay
solution is a single, intelligent mobile wallet platform that
essentially virtualizes current wallet functions so that consumers no
longer have to carry a physical wallet—just their smart phone with the
CorPay application installed and configured. CorPay allows consumers to
use their mobile devices to pay for goods and services while on the go,
in a clean, quick, intuitive, and convenient manner.

About Payfone

Payfone is the remote mobile commerce company that links mobile identity
with the payment process to provide merchants with the easiest, most
secure mCommerce checkout possible. Merchants and financial services
institutions rely on Payfone to power and secure mobile payments for
their customers. Payfone is based in New York City with development
centers in San Jose, Calif. and Denver, Colo. For more information,
visit www.payfone.com.

About CorFire

From retailers to handset manufacturers to financial institutions to
mobile network operators, organizations today need a proven way to
extend their brands and enable their customers to use smartphones as a
channel for commerce. With its proven industry expertise, CorFire helps
all organizations in the mobile ecosystem deliver on the promise of an
environment where consumers can live life mobile. As the mobile commerce
business of SK C&C USA, CorFire leverages the billion dollar financial
backing of its parent company, SK C&C, with its 10+ years of mobile
payments experience to provide a scalable and trusted technology that
helps companies quickly and securely move their mobile commerce
platforms forward.